Siemens Announces Acquisition of LMS
LMS, a provider of test and mechatronic simulation for Fortune 500 companies in the automotive, aerospace and other advanced manufacturing industries, earned roughly €140 million in revenue between Jan. 1 and Sept. 30. The company employs more than 1,200 people.
"This acquisition is the best possible strategic option to maximize our future growth and continue the long-term success for LMS in a consolidating industry," said Urbain Vandeurzen, chairman and CEO of LMS. "Since LMS' foundation in 1980, we have reported over 30 years of continued profit and revenue growth. Our customers can continue to count on our portfolio of solutions and now also on a strong partner that offers complementary technical software, deep industry expertise and long-term stability."
"The mechatronic simulation will become more and more important for intelligent and competitive product development and production processes," said Siegfried Russwurm, member of the Siemens managing board and CEO of the Industry sector. "With the acquisition of LMS, we are entering a leading position in this software segment as well and can significantly boost the pace and power of our clients' innovation."
More than 70,000 global automotive, electronic manufacturing, aerospace and mechanical engineering companies use Siemens' PLM software.
"With the acquisition of LMS, we are expanding our portfolio of industry software in an area that is critical for many customers," Anton S. Huber, CEO of Siemens Industry Automation division. They will now be able to simulate, test, optimize and produce their products in a unified, consistent data environment. This will make them faster, more efficient, more flexible, and more cost-effective."